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CPRX Back Above $1, STEM Grows, TTHI, IMGN On Watch

CPRX Back Above $1, STEM Grows, TTHI, IMGN On Watch
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Catalyst Pharmaceutical Partners Inc. (CPRX: Quote) has regained compliance with the $1.00 per share minimum bid price requirement for continued listing on the NASDAQ Capital Market, confirmed the NASDAQ Stock Market on Friday. The 180-day extension period for regaining compliance ends on December 23, 2013.

CPRX closed Friday's trading 15% higher at $1.61. In after-hours, the stock was up 1.24% at $1.63.

ImmunoGen Inc. (IMGN: Quote) touched a new 52-week high of $20.25 on Friday before closing at $18.93, down 2.32%.

Breast cancer drug Kadcyla, licensed to Roche by Immunogen, awaits regulatory decision in the EU and Japan. The European regulatory decision is expected in the second half of this year.

Kadcyla was approved by the FDA on February 22, 2013 for the treatment of people with HER2-positive metastatic breast cancer who had received prior treatment with Herceptin and a taxane.

StemCells Inc. (STEM: Quote) said Friday that the evidence of myelination in Pelizaeus-Merzbacher disease patients was more pronounced 2 years after transplantation with the company's proprietary HuCNS-SC cells (purified human neural stem cells) compared to one year post-transplantation.

Patients with Pelizaeus-Merzbacher disease have a defective gene which leads to insufficient myelin in the brain, resulting in progressive loss of neurological function and death.

STEM gained 9.20% on Friday's trading to close at $1.78. In after hours, the stock was up 3.37% to $1.84.

Transition Therapeutics Inc. (TTHI: Quote) rose 11.19% to close Friday's trading at $4.47 after announcing that it has entered into a private placement with investors to receive up to US$21.7 million in equity financing. The investors will purchase 2,625,298 units of the company at a price of US$4.19 per common share. The private placement is expected to close on or about August 15, 2013.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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